The vibrance of a growing Phnom PenhThe capitol city in the Kingdom of Wonder is growing rapidly
Phnom Penh isn’t the city in Cambodia most people visit – that would be the much smaller and more touristy Siem Reap, home to the world famous Angkor Wat temple complex.
But the capitol city is really an interesting and vibrant place to live, and worth a visit if you’re touring SE Asia, especially if you’re looking for business and investment opportunities.
They’ve overbuilt though, and with thousands of new units coming online over the next 2-3 years, it’s going to become a buyers market for those with cash.
Because of the long-term plan the government has looking toward hosting SEA Games in 2023, which seems to be a great source of pride and which has spawned an alleged $500million sports complex to the north of the city, it’s going to be interesting to see how a dip is managed because it is inevitable.
Because this place is like an anthill, though, I think it’ll look similar to what happens when a part of an anthill gets damaged – a flurry of activity and chaos, and in the end, things will continue to move forward.
While Cambodia is a dollarized economy, their relationship with China appears quite strong (the Chinese, as they often do, are funding much of the new stadium project, and many of the new towers under construction are Chinese-owned) so the risk of a dollar collapse is unlikely to do long-term damage to the local economy.
I’ve been based in PP for 3 1/2 years now, and it’s certainly gritty and a bit crazy, but for me it’s really this inspiring, growing region in a microcosm. Definitely worth checking out! 🇰🇭
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